Interim results were in line with revised guidance with a reassuring statement that the board is confident of meeting full-year expectations. Action taken to restore margins is already showing benefits, while recent contract awards and a strong pipeline provide confidence of a stronger 2H. No change to PBT forecasts with a reduction in LPS to 0.6p due to a tax credit. Affirmation of FY forecasts should be taken well, giving some confidence to the shares that remain below pre-IPO levels. We be
26 Jun 2018
Velocity Composites - Interim results signal FY forecasts on track
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Velocity Composites - Interim results signal FY forecasts on track
Velocity Composites Plc (VEL:LON) | 29.5 0 0.0% | Mkt Cap: 15.8m
- Published:
26 Jun 2018 -
Author:
David Buxton -
Pages:
9
Interim results were in line with revised guidance with a reassuring statement that the board is confident of meeting full-year expectations. Action taken to restore margins is already showing benefits, while recent contract awards and a strong pipeline provide confidence of a stronger 2H. No change to PBT forecasts with a reduction in LPS to 0.6p due to a tax credit. Affirmation of FY forecasts should be taken well, giving some confidence to the shares that remain below pre-IPO levels. We be